[VAactgGrad]

Hi – Any CGFMs out there? Can anyone please share the experience in preparing for and taking the CGFM exams? How long was the study process? What were the study materials used? How difficult were the exam parts? Is part 2 comparable to the level of difficulty of any part of the CPA exam? Any recommendations on the study process? Thx.

[jeff]

What are the advantages to being a CGFM?

[FoundMyBeast]

I'm just starting the tests now, so I can't help you with the test 2 questions. I can say I studied for the first one by reading the study guide that AGA puts out once. Then read their 1-2 page summaries a few times. My only concern was “there's no way it's this easy…” But I passed, it was. I'm told the study guides ($85 each) are all you really need. My company pays for the course, so I may do that for part 2 (24 CPE hours). I'll probably take the third one next, and save the hardest for last.

In terms of actual test process, much simpler than CPA. Easy to apply, heard back really fast. The Pearson Vue centers are essentially the same as Prometric. But you do find out if you passed immediately (no wait!).

AUD: 98
FAR: 81
BEC: 85
REG: 74, 71, 82!!!!!!

[Anonymous]

I could see that certification being useful if you did a lot of Governmental Audits. I do a bunch of them and I have three governmental clients. I don't know if I want to EVER take another test when I get off of this train ride through hell, but it's a thought.

[VAactgGrad]

The “advantages of the CGFM,” and of anything else for that matter, are situational and subjective. I work in federal practice and the CGFM curriculum teaches knowledge and skills that greatly complement those I gained from the CPA process.

Thanks Found, for the info. I'm using the AGA study material as well. Unfortunately, though, I had to pay for that and the exam fees myself. I took part 2 yesterday and the questions were more detailed and more challenging than I thought. When you prepare for part 2, make sure you spend time on all of the reporting requirements, treatments of various transactions, and the relationships between the financial statements. Also, much like preparing for the CPA exam but to a slightly lesser extent, be sure to note the various exceptions to rules. My plan is to sit for part 3 next followed by part 1 to finish up the process before the end of the year. Good luck with your exam prep.

[jaredo155]

@VAactgGrad – I am highly interested in this cert or possibly the CGAP following the CPA process, when you complete this process if you would let me know if you found the AGA study materials adequate that would be greatly appreciated.

@Jeff – The value is going to be similar to the CMA for someone in industry after completing the CPA, or the CIA for someone in internal audit who already has a CPA. It isn't going to probably add much in the way of salary increase on top of a CPA, but it does expand your knowledge and skill set and indicates to employers that you are committed to and specialized in that area.

AUD - 2/2013 - Passed!
BEC - 5/2013 - Passed!
FAR - 8/2013 - Passed!
REG - 11/2013 - Passed!
"Do or do not, there is no try." - Yoda

[VAactgGrad]

@jaredo – the AGA text books will definitely provide you with sufficient information to pass. i purchased just the AGA books without the practice exams.

[K_Sunshine5]

Wanted to rehash this thread. I am a current federal government employee and am thinking about the CGFM. I already have my CPA license and I guess I want to put myself through the torture of another ceritification lol. Anybody have any updates and/or information and advice? Any would be greatly appreciated 🙂

FAR: 65, 77!
AUD: 72, 72, 80!
REG: 64, 84!
BEC: 83!
Ethics: 98!

Delaware CPA as of May 23, 2014 at 10:43am EST.

"She believed she could, so she did."

[Anonymous]

I do a lot of government audits and I am looking at CGFM for later on. I have also looked at CGAP, which is only one test.

[K_Sunshine5]

I will be doing a lot of audits on defense contracts starting next month. I am just gathering information about the CGFM right now and will talk to my supervisor about it to see what her opinion is. I've read that the exam is nothing compared to the CPA exam so that would be nice. And more letters behind my name can never hurt 🙂

FAR: 65, 77!
AUD: 72, 72, 80!
REG: 64, 84!
BEC: 83!
Ethics: 98!

Delaware CPA as of May 23, 2014 at 10:43am EST.

"She believed she could, so she did."

[Valleygrl68]

Anyone completed the CGFM recently?

[Author]

Replies